10-Yr: +12+/32..2.850%.. USD/JPY: 100.0350.. EUR/USD: 1.3230Really?: WSJ: Today the SEC may "[wave] through a reinstatement of the uptick rule. But does curbing short sales create its own set of problems? A new study seems to suggest so. Researchers at the University of Southern California and University of Alberta argue that the short-sale ban enacted by the SEC in September 2008 caused price inflation of at least $4.9 billion in the stocks covered. The academics used "daily valuation factors" to compare stocks not covered by the ban to those covered. Among the stocks that may have seen inflated prices during the ban were mortgage giants Fannie Mae and Freddie Mac. The researchers say the evaluation isn't perfect, but they are working to improve their models. But they say, even flawed findings should concern lawmakers. "The creation of a bias toward long sellers is inconsistent with fair markets," the reasearchers wrote."
